Linda Chavez Sells 2,103 Shares of ABM Industries, Inc. (ABM) Stock
ABM Industries, Inc. (NYSE:ABM) Director Linda Chavez sold 2,103 shares of the business’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $38.89, for a total value of $81,785.67. Following the completion of the sale, the director now directly owns 16,557 shares in the company, valued at approximately $643,901.73. The sale was disclosed in a legal filing with the SEC, which is available through this link.
ABM Industries, Inc. (NYSE ABM) opened at $38.87 on Monday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 1.63. ABM Industries, Inc. has a 52-week low of $36.61 and a 52-week high of $45.12. The stock has a market capitalization of $2,546.54, a price-to-earnings ratio of 555.37 and a beta of 0.81.
ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Wednesday, December 13th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.12). ABM Industries had a net margin of 0.07% and a return on equity of 9.74%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the firm posted $0.51 EPS. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. equities research analysts expect that ABM Industries, Inc. will post 1.77 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 5th. Shareholders of record on Thursday, January 4th will be given a $0.175 dividend. This is an increase from ABM Industries’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, January 3rd. This represents a $0.70 annualized dividend and a yield of 1.80%. ABM Industries’s payout ratio is presently 1,000.14%.
ABM has been the topic of several recent analyst reports. Zacks Investment Research lowered ABM Industries from a “hold” rating to a “strong sell” rating in a research note on Friday, December 15th. TheStreet downgraded ABM Industries from a “b” rating to a “c+” rating in a research report on Friday, December 29th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $49.50.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in ABM Industries by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 5,506,110 shares of the business services provider’s stock valued at $228,614,000 after purchasing an additional 244,626 shares during the last quarter. Lee Thomas H Partners LP bought a new position in ABM Industries in the 3rd quarter valued at $188,691,000. Dimensional Fund Advisors LP raised its position in ABM Industries by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,380,054 shares of the business services provider’s stock valued at $99,272,000 after purchasing an additional 10,556 shares during the last quarter. Northern Trust Corp raised its position in shares of ABM Industries by 3.6% during the second quarter. Northern Trust Corp now owns 1,637,601 shares of the business services provider’s stock worth $67,993,000 after acquiring an additional 57,497 shares during the last quarter. Finally, Channing Capital Management LLC raised its position in shares of ABM Industries by 4.8% during the third quarter. Channing Capital Management LLC now owns 1,463,858 shares of the business services provider’s stock worth $61,058,000 after acquiring an additional 66,957 shares during the last quarter. Hedge funds and other institutional investors own 94.09% of the company’s stock.
ABM Industries Company Profile
ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.
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